The company debuted last year but still hasn’t formally launched. We don’t know a lot about what High Fidelity is developing but what we do know is that the company is prototyping the technology and user experience of a next-generation virtual reality system. With Rosedale and his team’s experience developing for Second Life, it should be interesting to see what their vision of a next-generation virtual reality system looks like.

We embedded a video that looks to show some of the technology that High Fidelity has created via its blog. Previous backers include True Ventures, Google Ventures, Kapor Capital, and angels.

Rosedale previously launched Coffee and Power in 2011 as an online marketplace where people can buy and sell small jobs. It also opened up a co-working space in San Francisco where users could meet in a safe public area to work together and conduct transactions and services. The startup raised $1 million in funding from Amazon CEO and founder Jeff Bezos, Greylock Partners, Mitch Kapor, Catamount Ventures and Kevin Rose.